2027 Budget: Government projects GH¢389.2bn expenditure, allocates GH¢100.4bn for capital spending

The Ghanaian government has announced a significant budget allocation of GH¢3.5 billion for the Ministry of Youth Development and Empowerment in the 2027 Budget, with a substantial portion dedicated to youth employment and skills development. Finance Minister Dr Cassiel Ato Forson outlined the budgetary provisions during the presentation of the 2027 Budget Statement and Economic Policy to Parliament.

The GH¢2 billion allocated to youth employment and skills development represents the largest share of the Ministry's budget. The funds are intended to support various initiatives aimed at equipping young people with relevant skills and improving their prospects for securing employment and contributing productively to the economy. This investment underscores the government's commitment to prioritizing youth development within its broader economic agenda.

In addition to the youth-focused funding, the government has earmarked GH¢1 billion for the payment of allowances to National Service Personnel. This provision is crucial for supporting the government's financial obligations towards the personnel undertaking national service assignments across the country. These individuals contribute to service delivery and gain practical workplace experience while fulfilling their national service commitments.

Furthermore, the National Entrepreneurship and Innovation Programme (NEIP) will receive GH¢170 million to bolster its activities in supporting entrepreneurship and innovation among Ghanaians. Meanwhile, the National Youth Authority (NYA) will be allocated GH¢200 million to fund its youth development interventions and initiatives.

Overall, the allocations reflect the government's broader efforts to promote youth participation in economic activities by fostering employment opportunities, enhancing skills acquisition, and nurturing entrepreneurship. The GH¢2 billion dedicated to youth employment and skills development is a key component of this strategy, emphasizing the government's commitment to empowering young Ghanaians and expanding economic opportunities for the nation's future workforce.